Corporations Act 2001
CCH Note: Division 3 is modified by the ASIC Corporations (Takeover Bids) Instrument 2023/683; and the ASIC Corporations (Compulsory Acquisitions and Buyouts) Instrument 2023/684.
CCH Note: Section 663C is modified by the ASIC Corporations (Takeover Bids) Instrument 2023/683; and the ASIC Corporations (Compulsory Acquisitions and Buyouts) Instrument 2023/684.
Within 1 month after notice under section 663B is given in relation to convertible securities, the holder of the convertible securities may give the bidder a notice requiring the bidder to acquire the securities.
663C(2)
The holder ' s notice gives rise to a contract between the holder and the bidder for the sale of the securities on: (a) the terms agreed to by the bidder and the holder; or (b) the terms determined by the Court on application by the holder.
663C(3)
If the Court makes a determination under paragraph (2)(b) in relation to the terms of sale for a holder ' s securities of a particular class, the determination applies to all holders of securities in that class who have applications to the Court pending for a determination under that paragraph in relation to the terms of sale of their securities.
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